Nothing can be more deflating than losing a potential borrower at the last second due to a rate they’re unhappy with. The borrower lead comes in, you’re quick to respond, you understand what they qualify for, and then when you show them their potential rate, they’re not satisfied and continue to shop around. It stinks, right?

Fortunately, there’s a way you can help borrowers get what they want while keeping you in mind as it happens. By utilizing a rate tracker, you can send rate updates to your borrower prospects on a set basis, or when the specific rate they want becomes available. As the rate notification outreach is coming from you, the borrower will be keeping you in mind while they receive those updates. Even as rates are expected to go up, you can set a max rate to trigger the tracker as well. Trackers can even be configured by monthly payment change or points paid. No matter how you want to track a rate, with Mortech rate trackers, it can be done.

One of the benefits one of the benefits of Mortech Product and Pricing Engine (PPE) is the ease of quoting new and unique products for your borrower scenarios. We wrote earlier on this blog about Cashout products, and how offering them can provide new avenues for young borrowers with student loan debt. Being able to offer more niche products for unique scenarios is a big way for you to get ahead of the competition in terms of what sets you apart from the rest.

Routing leads through a third party has fostered a lot of misconceptions around it. The biggest is that doing so increases the time it takes for the lead to hit your Lead Management System or CRM, slowing down your initial contact with them. According to The Zillow Group Report on Consumer Housing Trends in 2017, 81%of home buyers expect a response to their initial communication with a real estate professional within a day or less. The quicker you respond, the more likely you are to close the lead.

One of the key features of Mortech’s mortgage pricing engine is the access we give our users to over a hundred different investors and their products. This allows them to give their borrower the best possible solution out of a larger pool of potential products

This means that Mortech is constantly evaluating new products to support on our pricing engine. For example, a lot of young borrowers with student loan debt may be looking to lower their monthly payments or consolidate. With the Student Loan Cashout product from Fannie Mae, lenders can offer something to borrowers that allows them to use some of the equity in their home to pay off student loan debt, thus incentivizing them to refinance, even in an environment where rates are increasing.

As the mortgage world gets bigger and more competitive, finding new ways to reach potential borrowers is a must. Relying on old tricks can only get you so far, and lenders that are always learning and using new tricks and tools are in a position to consistently stay ahead of the game.

Tee off with us as we take you through nine holes of the mortgage process, and find out if your mortgage business is up to par.

We’ve been writing a lot about the mortgage process. We’ve talked about having a strong online presence with rate quoting and mortgage websites. We’ve extensively covered the usefulness of our integrations and APIs in getting the tools and processes you need to better your business. But one thing has been woven into the fabric of all of those things; it’s pivotal to everything that we do, and it should be for you, too. It’s our pricing data.

Tee off with us as we take you through nine holes of the mortgage process, and find out if your mortgage business is up to par.

Mortgage hedging provides some of the more interesting and complicated questions and scenarios within the industry. There are obvious benefits to doing so – hedging your pipeline properly mitigates risk and allows for trading hedge products that make you more money – but knowing when you should start isn’t always easy. We’ve previously talked about mortgage hedging under the context of knowing when you should be hedging, however having the tools to do so isn’t the same question.

Tee off with us as we take you through nine holes of the mortgage process, and find out if your mortgage business is up to par.

As the mortgage world speeds up, technology continues to advance, and processes become more condensed, spending your time the right way is crucial. With the number of tools and resources available to lenders, spending excessive time on something that could easily be resolved by implementing the right solution to expedite the process can be a huge detriment to mortgage businesses.

Tee off with us as we take you through nine holes of the mortgage process, and find out if your mortgage business is up to par.

You’ve worked hard up to this point capturing leads; you’ve put your rates online, cast a wide net to bring in online borrowers, and the hits are finally coming in.

So…now what?

Tee off with us as we take you through nine holes of the mortgage process, and find out if your mortgage business is up to par.

Complex rules and regulations can be tough for anyone to follow. Being unable to keep up with several moving parts and making sure they’re all within certain guidelines can be a major hindrance for any business, and especially one in the mortgage space. One of the most important areas to stay on top of this in mortgages is with pricing, in which not staying within the set of rules can make accuracy and compliance a big issue. This is evident in point of sale, in which lenders often need pricing data to drive toward a locked loan, and have to rely on that data being fast, accurate, and staying within the rules.